Dubai Police have announced the arrest of a cybercrime gang involved in online fraud and fake investment schemes.

The Anti-Fraud Centre at the General Department of Criminal Investigation carried out the operation following intensive monitoring and investigation.

Authorities revealed that the gang promoted fraudulent trading and investment opportunities through social media platforms.

Victims reported being contacted via phone calls by individuals falsely claiming to represent legitimate electronic investment and trading firms. These suspects promised high and fast returns on investments to gain the victims’ trust.

• Victims were tricked into transferring funds abroad
• The suspects’ identities and locations were traced

The funds were later funneled into bank accounts outside the UAE. Dubai Police confirmed that all individuals involved were identified and swiftly arrested.

The details of the operation were disclosed as part of the ongoing national awareness campaign, #BeAwareofFraud.

Legal procedures are underway to refer the suspects to the appropriate judicial authorities.

Source: Dubai Media Office

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